Legoland Developer Plunges 15% on Trading Debut in Dubai - Bloomberg:
"Dubai Parks & Resorts PJSC slumped on its first day trading in the emirate after raising 2.53 billion dirhams ($690 million) in an initial public offering to finance the construction of three theme parks.
Shares of the amusement park developer and operator dropped 14.5 percent to 0.86 dirhams at 10:16 a.m. local time. The DFM General Index (DFMGI), Dubai’s main measure, declined 1.2 percent, bringing its seven-day loss to 15 percent.
The IPO, equal to 40 percent of the company, attracted institutional investors such as sovereign wealth funds from Qatar and Kuwait and wealthy families, who made offers of about 100 billion dirhams, the company said. Dubai’s stock market was the world’s best performing this year until it was caught up in a regional selloff amid tumbling oil prices."
'via Blog this'
No comments:
Post a Comment